Forget talk of avocado toast and endless selfies, writes Will Oulton, asset managers and advisers need to wake up to the fact millennials will look to responsible investing as ethics drive their financial choices
How do asset managers think of the so-called ‘millennial' generation - generally now agreed as comprising those who were born between the early 1980s and 2000? Avocado toast, perhaps? Endless selfies? Generation rent? Or the world's most powerful consumers, poised to inherit the earth? Whatever the answer, an irrevocable truth remains: over the next 30 years, it is estimated that $30trn (£23trn) of assets will move into the hands of millennials - and around a third of that could be over the next decade. A fondness for avocado toast? Maybe, but ‘driven', ‘entrepreneurial', ‘more educated'...
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